Legal Two-Family
For Sale
$1,938,000
40-45 193rd Street, Flushing, NY 11358
Separate gas and electric meters, a finished basement, garage, private driveway, and backyard serve the property.
Property Size2,864 SF
Lot Size0.11 Acres
Price / SF$676.68
Days on Market9
Property Features for 40-45 193rd Street
General Information
Standard status
Active
Size
2,864 SF
Lot size
0.11 Acres
Property subtype
Residential Income
Zoning
R3X
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Individually Metered Utilities
gas, electric
Taxes and HOA fees
Annual Taxes
$13,220
Amenities
spacious backyard
large car garage
private driveway
finished basement with recreation space
Finished
Hardwood
4
Yes
6
First Floor Bedroom
No
Public
3
Garage
2864
Building Details
Building Size
2,864 SF
Year Built
1960
Buildings
1
Listing Agency:
Skylux Realty Inc
(516) 703-2918
Listed By:
Aman Deep Sabharwal
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 4:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Skylux Realty Inc
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Investment Insights
Based on property information with market context.
This legal two-family property has two distinct residences on a 50X100 corner lot. The first residence includes a living room, dining room, kitchen, three first-floor bedrooms, and two full bathrooms, with an additional bedroom and large living room upstairs. The second residence has one bedroom, one bathroom, a living room, dining room, kitchen, and access to the backyard. A finished basement with a separate entrance provides recreation space and another bathroom. The property also includes two boilers, separate gas and electric meters, a garage, and a private driveway with space for multiple cars. Built in 1960, the building measures 28X52 and has R3X zoning.
The property is in Auburndale, Flushing, approximately half a block from the LIRR and one block from Northern Boulevard. Shopping, dining, and transportation are nearby.
The property is in Auburndale, Flushing, approximately half a block from the LIRR and one block from Northern Boulevard. Shopping, dining, and transportation are nearby.
Key Highlights
- Legal two‑family property on a 50X100 corner lot
- R3X zoning; building measures 28X52
- First residence has 4 bedrooms and 2 full bathrooms across two levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,009
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,180
$1.4M
Cap Rate 7%
$1,000,129
$1.0M
Cap Rate 9%
$777,878
$777.9K
Market Conditions
NOI Build-Up for 2,864 SF
Gross rent
$132.3K $46.20/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$127.3K $44.44/SF
− OpEx
−$57.3K −$20.00/SF
NOI
$70.0K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,180
Cap Rate 7%
$1,000,129
Cap Rate 9%
$777,878
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$875.1K – $1.17M
NOI $70,009 @ 7.0% cap · market cap 3.61%
Second Best
Multifamily LT 5
$677.2K
$592.6K – $790.1K
NOI $47,404 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,796 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,909
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate gas and electric meters, a finished basement, garage, private driveway, and backyard serve the property.
Where is this duplex located?
The property is located at 40-45 193rd Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,938,000.
What are key features of this property?
This property features: Legal two‑family property on a 50X100 corner lot; R3X zoning; building measures 28X52; First residence has 4 bedrooms and 2 full bathrooms across two levels
